dana landis question : Is this a first time home buyer with a house under a brand name to invest in real estate ?
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loss leader
A house, like everything else, can be purchased through any type of business – individual, partnership, LLC, LLP or any other thing you can imagine. One company, just a plain d / b / a can not have anything. The owner of the company – or corporation – peut.Il to consider only three aspects: First, while it does not matter who owns a house, it is important for the bank who is responsible to pay the mortgage. A small company is not allowed, gnerally get a mortgage without a personal guarantee from you as a person be. Second, get as investment property mortgage rate other than principal residences. This means you will pay more to invest and do not live in a house to live in it. Thirdly, otherwise treated as investment property for tax purposes as principal residences. You have to pay a tax on capital gains on all income from property, then would be able to disqualify hundreds of thousands of people in the profits from the sale of a residence principale.Demandez your expert accountants and real estate attorney for more information.
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if you lose the business-you lose the home. Bad idea
Yes, but you will be unable to take advantage of first time home buyer programs that require the home to be owner-occupied.
You will pay a much higher interest rate, and may be required to put down a much larger down payment.
You can buy a piece of property in any name you please, doesnt matter if this is your first time buiying a house or not.
While you wont be eligible for any state or federal first time homebuyer programs, you may be eligible for small business loans. (depends on your business)
yes, you need to set up a trust. Is a good idea for any property that you purchase, for protection from law suits
The real question is can you get financing for the property in a company name?
You can purchase the house in any name you want, as long as the mortgage company has no problem with you doing that.